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Net Sales
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Net Sales

8. Net Sales

Disaggregated Net Sales

We primarily derive our revenues from the sales of various chemical products. The Company’s net sales disaggregation is consistent with other financial information utilized or provided outside of our condensed consolidated financial statements. Accordingly, this approach is reflected in disaggregated net sales, mirroring how the Company manages its net sales by product through contracts with customers.

The following table presents our net sales disaggregated by our products, which disaggregation is consistent with other financial information utilized or provided outside of our consolidated financial statements:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

AN & Nitric Acid

 

$

57,522

 

 

$

47,981

 

 

$

176,847

 

 

$

154,858

 

Urea ammonium nitrate (UAN)

 

 

51,423

 

 

 

25,303

 

 

 

147,550

 

 

 

109,303

 

Ammonia

 

 

37,072

 

 

 

28,490

 

 

 

97,174

 

 

 

96,468

 

Other

 

 

9,414

 

 

 

7,443

 

 

 

28,588

 

 

 

26,865

 

Total net sales

 

$

155,431

 

 

$

109,217

 

 

$

450,159

 

 

$

387,494

 

Other Information

For our contracts with a duration greater than one year at contract inception, the average remaining expected duration was approximately 31 months at September 30, 2025.

Liabilities associated with contracts with customers (contract liabilities) primarily relate to deferred revenue and customer deposits associated with cash payments received in advance from customers for product shipments. Our contract liabilities were minimal as of September 30, 2025. We had approximately $1.1 million of contract liabilities as of December 31, 2024. For the three and nine months ended September 30, 2025, revenues of $0.1 million and $1.1 million, respectively, were recognized and included in the balances as of June 30, 2025 and December 31, 2024. For the three and nine months ended September 30, 2024, revenues of $0.1 million and $0.8 million, respectively, were recognized and included in the balances as of June 30, 2024 and December 31, 2023. Our contract assets consist of unconditional rights to payment from our customers, which are reflected as accounts receivable in our condensed consolidated balance sheets.

For most of our contracts with customers, the transaction price from the inception of a contract is constrained to a short period of time (generally one month) as these contracts contain terms with variable consideration related to both price and quantity. At September 30, 2025, we had remaining performance obligations with certain customer contracts, excluding contracts with original durations of less than one year and for service contracts for which we have elected the practical expedient for consideration recognized in revenue as invoiced. As of September 30, 2025, the remaining performance obligations totaled approximately $118.9 million, of which approximately 52% relates to 2025 through 2027, approximately 27% relates to 2028 through 2029, with the remainder thereafter.